vlv8vic
<---Brad Quaid = internet stalker
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<p>the aim of the game is ALWAYS (from a personal investment POV) to pay off your principle residence as soon as possible. you don't make money on the property you live in by not paying it off.
Rentals can run self-sufficiently on and interest-only repayment if you hold onto them for the right amount of time, so yes, you don't need to worry about ever paying them off.
your tenants are paying the interest through rent and you just take the benefits when you sell in 5-10 years or whatever you feel the market is doing in your area. You actually want to make it look as though the rental property is running you dry, or at least to a loss. put a few thou here or there, show that you added a bit to cover the interest or loan (be it a lack of equity or whatever), claim your mortgage insurance as a deduction and if you are lucky youll push yourself into a lower tax bracket!!!
your investment should never cost you money from your own pocket. pay off your own house, use the equity to get an investment, use mortgage insurance for as close to 100% finance as you can get and let your tennants make you some long term money.
Im no David Kosh, so there will be bits i missed but thats what im doing.
loans are simple if you spend the time to work it out. people also work out very soon that loans for yourself, be it your own car, or own residence are the ones that are going to cost you lots of your hard earneds.</p>
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<p>the aim of the game is ALWAYS (from a personal investment POV) to pay off your principle residence as soon as possible. you don't make money on the property you live in by not paying it off.
Rentals can run self-sufficiently on and interest-only repayment if you hold onto them for the right amount of time, so yes, you don't need to worry about ever paying them off.
your tenants are paying the interest through rent and you just take the benefits when you sell in 5-10 years or whatever you feel the market is doing in your area. You actually want to make it look as though the rental property is running you dry, or at least to a loss. put a few thou here or there, show that you added a bit to cover the interest or loan (be it a lack of equity or whatever), claim your mortgage insurance as a deduction and if you are lucky youll push yourself into a lower tax bracket!!!
your investment should never cost you money from your own pocket. pay off your own house, use the equity to get an investment, use mortgage insurance for as close to 100% finance as you can get and let your tennants make you some long term money.
Im no David Kosh, so there will be bits i missed but thats what im doing.
loans are simple if you spend the time to work it out. people also work out very soon that loans for yourself, be it your own car, or own residence are the ones that are going to cost you lots of your hard earneds.</p>
